Current Attempt in Progress Oriole Co. includes one coupon in each bag of dog food it sells. In return for 4 coupons, customers receive a dog toy that the company purchases for $1.30 each. Oriole's experience indicates that 60 percent of the coupons will be redeemed. In 2025 , 94,000 bags of dog food were sold, 11,020 toys were purchased, and 37,600 coupons were redeemed. In 2026, 116,000 bags of dog food were sold, 15,610 toys were purchased, and 58,000 coupons were redeemed. Determine the premium expense to be reported in the income statement and the premium liability on the balance sheet for 2025 and 2026. Attempts: 0 of 1 used